201 sats \ 2 replies \ @CypherPoet 28 Jun 2022 \ on: Daily discussion thread
Now that Fountain’s latest earning features have rolled out, I’ve been thinking if this could lead to competition among applications that offer Sats for different kinds of engagement.
(For example, if people are making a lot by listening to Fountain podcasts, will Stacker News be pressured to respond with additional earnings features in order to get that bandwidth back? 😄)
We’re still very early, but as more apps are built on Lightning, one could see this getting… intense. After all, there’s only a finite amount of Sats to go around 🍿
Right now i view earning as a great onboarding tool for consumer apps, since nobody is used to being paid for their time on Facebook, Twitter, Reddit, Spotify, etc…
Product-market fit remains the best indicator of long-term success (you can’t pay people enough to use a bad product), but for consumer social apps like Fountain & SN where network effects are very important, this makes a lot of sense as a way to cross the chasm and get a critical mass of users.
Like all good growth hacks, there will come a time where earning money is expected, and it will be harder for apps to get new users with this onboarding strategy.
In the meantime, consumers are going to benefit with actual rewards that they can use anywhere, and that’s a great thing. The earning genie isn’t going back in the bottle.
I suspect that over time, the highest value sat-earning apps will be things like Stakwork where you’re actually performing a task that someone is willing to pay for the completion of… aka a job or a bounty.
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I think content and user experience will remain the driving factor for consumers. Outside of teenagers most of us have fiat mining jobs. More emphasis on paying content creators ala youtube seems to be the key to driving more consumer eyeballs.
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